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21 Feb 2013
Forex: AUD/USD hovering over 1.0250/55
The Aussie dollar followed the rest of the high beta currency and commodity-related assets in their way south, after the FOMC minutes ignited a rally in the USD on Wednesday.
“Iron ore prices actually rose 0.6% to $158.90/tonne, a fresh high since Oct 2011. So long as 1.0227 holds, AUD/USD should stabilize today and probably edge higher multi-day”, commented Sean Callow, Strategist at Westpac.
AUD/USD is now losing 0.03% at 1.0253 facing the immediate support at 1.0220 (Lower Bollinger) ahead of 1.0203 (low Oct.15) and finally 1.0175 (low Oct.9).
On the upside, a surpass of 1.0276 (low Feb.18) would open the door to 1.0295 (hourly high/low Feb.20) and then 1.0310 (MA10d).
“Iron ore prices actually rose 0.6% to $158.90/tonne, a fresh high since Oct 2011. So long as 1.0227 holds, AUD/USD should stabilize today and probably edge higher multi-day”, commented Sean Callow, Strategist at Westpac.
AUD/USD is now losing 0.03% at 1.0253 facing the immediate support at 1.0220 (Lower Bollinger) ahead of 1.0203 (low Oct.15) and finally 1.0175 (low Oct.9).
On the upside, a surpass of 1.0276 (low Feb.18) would open the door to 1.0295 (hourly high/low Feb.20) and then 1.0310 (MA10d).